Hershey Adds barkTHINS to Snacking Portfolio
HERSHEY, Pa. — Trying to expand from its candy-bar-selling roots, The Hershey Co. purchased the makers of barkTHINS, a chocolate snacking brand that includes nuts, seed and fruits baked in.
Terms of the deal for barkTHINS parent company Ripple Brand Collective LLC were not disclosed.
“This acquisition is a great addition to our Hershey chocolate portfolio and enables us to expand our mass premium offerings into this growing and on-trend category,” said Michele G. Buck, president, North America, The Hershey Co. “Since its launch in 2013, barkTHINS has quickly become a favorite snack brand due to its commitment to using simple ingredients, fair trade cocoa, non-GMO certification, and no artificial flavors or preservatives.
“barkTHINS is a very attractive and uniquely crafted brand that essentially created a new form of chocolate snacking. Made with high-quality dark chocolate, nuts and other ingredients, barkTHINS addresses key consumer trends, such as premium, high-quality ingredients and snacking. We look forward to building barkTHINS by leveraging Hershey’s scale at retail,” she added.
The barkTHINS brand is largely sold in the United States in take-home resealable packages. Annual net sales of the business in 2016 are expected to range from $65 million to $75 million.
“We’re proud of the rapid development of the brand since our launch in 2013 and look forward to the next phase of accelerated growth that Hershey can provide,” said Scott Semel, founder and chief executive officer, Ripple Brand Collective LLC. “Our unique proposition, brand equity, and outstanding team give us confidence that there is tremendous upside for barkTHINS with a confectionery leader like Hershey.”
Headquartered in Hershey, Pa., the Hershey Co. is the largest chocolate manufacturer in North America. Some of its biggest brands include Krave Jerky, Reese’s Peanut Butter Cups, Hershey Kisses and Brookside.